Procurement and Supplier Relationships Quiz

What is the primary goal of procurement in a business context?

• To enhance customer service

• To increase marketing reach

• To secure the right products from the right suppliers at the right prices

• To reduce employee turnover

Which factor is crucial for maintaining smooth manufacturing processes?

• Trust

• Cost-effectiveness

• Delivery

• Quality

Why is quality considered paramount in procurement?

• It reduces overall costs

• Customers expect quality products across different price points

• It helps in building trust with suppliers

• It ensures timely deliveries

How can businesses gain greater bargaining power with suppliers?

• By sourcing from multiple suppliers

• By purchasing larger quantities

• By reducing delivery times

• By increasing product prices

What is a key reason for businesses to trust their suppliers?

• Suppliers have a large product range

• Suppliers safeguard confidential information

• Suppliers provide timely deliveries

• Suppliers offer the lowest prices